What this ETF is trying to do

The MUSQ Global Music Industry Index ETF is designed to give investors exposure to the global music industry. It holds a variety of companies involved in music, including streaming services, concert organizers, and music labels.

Top Holdings

As of October 8, 2026, the fund's largest holdings include:

• Spotify Technology SA (10.08%)

• Live Nation Entertainment Inc (9.08%)

• Universal Music Group NV (7.38%)

• Warner Music Group Corp (6.18%)

• CTS Eventim AG & Co. KGAA (6.09%)

• Yamaha Corp (5.51%)

• Amazon.com Inc (5.17%)

• Sonos Inc (5.1%)

• Madison Square Garden Entertainment Corp (5.02%)

• Hybe Ordinary Shares (4.97%)

These are only the top holdings, and the full list can change over time.

What the numbers show

The current price of the ETF is $25.15. To understand how the price has changed, we look at "price return" (the change in share price) and "total return" (which includes distributions).

• Year-to-Date (YTD): The price return and total return are both -10.73%.

• One Year: The price return was -13.27%, while the total return was -12.72%.

• Three Year: The price return was 8.25%, and the total return was 10.92%.

For a simple example, if you had invested $10,000 based on the estimated price from roughly one year ago ($29.00), the price-only decline of -13.27% would mean your investment's value based on share price alone would be approximately $8,673.

Income and distribution explanation

This ETF pays out cash distributions, but they are irregular and less frequent. Over the last 12 months, there was only one payout. The distribution yield is 0.71%.

It is important for beginners to know that a distribution yield is not the same as a total return. A yield tells you how much cash the fund pays out relative to its price, but it does not guarantee that your original investment (the principal) will stay the same or grow.

NAV erosion explanation

"NAV erosion" happens when the underlying value of an ETF's assets declines over time. StockValueFinder uses an erosion-risk score to measure this. MUSQ has an erosion score of 75, which is labeled as "Mild price erosion." This is a measurement of risk, not a guarantee that the fund's value has collapsed.

Pros

• The fund provides a way to invest in many different music-related companies at once.

• The three-year total return is positive at 10.92%.

Cons

• The one-year price return shows a decline of -13.27%.

• The income rating grade is a "D," and distributions are irregular.

Beginner takeaway

MUSQ allows you to invest in the music business. While it has grown over a three-year period, it has seen a share-price decline over the last year. Investors should remember that a distribution yield is separate from the price return, and a "mild" erosion-risk score suggests some price deterioration.